CorVel Co. (NASDAQ:CRVL) Sees Large Decline in Short Interest

CorVel Co. (NASDAQ:CRVL) was the target of a significant decrease in short interest in December. As of December 31st, there was short interest totalling 1,100,000 shares, a decrease of 6.0% from the December 15th total of 1,170,000 shares. Based on an average daily trading volume, of 119,100 shares, the days-to-cover ratio is presently 9.2 days.

Insider Buying and Selling

In related news, EVP Mark E. Bertels sold 1,050 shares of CorVel stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $119.12, for a total value of $125,072.50. Following the transaction, the executive vice president now directly owns 2,580 shares of the company’s stock, valued at $307,321. This trade represents a 28.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 47.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CorVel

Institutional investors and hedge funds have recently bought and sold shares of the company. Inspire Investing LLC increased its position in CorVel by 180.9% in the 4th quarter. Inspire Investing LLC now owns 3,570 shares of the business services provider’s stock valued at $397,000 after acquiring an additional 2,299 shares during the period. Wesbanco Bank Inc. increased its holdings in CorVel by 193.4% in the fourth quarter. Wesbanco Bank Inc. now owns 7,731 shares of the business services provider’s stock valued at $860,000 after purchasing an additional 5,096 shares during the period. SG Americas Securities LLC raised its position in CorVel by 322.2% during the 4th quarter. SG Americas Securities LLC now owns 1,520 shares of the business services provider’s stock worth $169,000 after purchasing an additional 1,160 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in CorVel by 217.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 555 shares of the business services provider’s stock worth $62,000 after buying an additional 380 shares during the period. Finally, Ballentine Partners LLC grew its position in shares of CorVel by 211.0% in the 4th quarter. Ballentine Partners LLC now owns 2,429 shares of the business services provider’s stock valued at $270,000 after buying an additional 1,648 shares during the last quarter. Institutional investors and hedge funds own 51.36% of the company’s stock.

CorVel Stock Up 0.1 %

Shares of NASDAQ:CRVL traded up $0.10 during trading on Friday, hitting $108.85. 115,524 shares of the company were exchanged, compared to its average volume of 124,134. CorVel has a 1-year low of $74.63 and a 1-year high of $127.24. The company has a market capitalization of $5.59 billion, a P/E ratio of 69.33 and a beta of 1.15. The business’s 50 day moving average is $124.83 and its 200-day moving average is $109.83.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of CorVel from a “buy” rating to a “hold” rating in a report on Friday, January 3rd.

About CorVel

CorVel Corporation provides workers’ compensation, auto, liability, and health solutions. It applies technology, including artificial intelligence, machine learning, and natural language processing to enhance the managing of episodes of care and the related health care costs. The company also offers network solutions services, including automated medical fee auditing, preferred provider management and reimbursement, retrospective utilization review, facility claim review, professional review, pharmacy, directed care, clearinghouse, independent medical examination, and inpatient medical bill review services, as well as Medicare solutions.